Rafael Holdings, Inc. - Oct 20, 2023 Form 4 Insider Report for Cyclo Therapeutics, Inc. (CYTH)

Role: 10%+ Owner
Signature: /s/ William Conkling, CEO
Stock symbol: CYTH
Transactions as of: Oct 20, 2023
Transactions value $: $1,471,257
Form type: 4
Date filed: 10/23/2023, 06:08 AM
Previous filing: Aug 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CYTH	Common Stock	Exercise of in-the-money or at-the-money derivative security	$1.79M	+2.51M	+38.6%	$0.71	9.03M	Oct 20, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CYTH	Warrant to Purchase Common Stock	Exercise of in-the-money or at-the-money derivative security	-$314K	-2.51M	-100%	$0.13	0	Oct 20, 2023	Common Stock	2.51M	$0.71	Direct
transaction	CYTH	Warrant to Purchase Common Stock	Purchase		+2.77M			2.77M	Oct 20, 2023	Common Stock	2.77M	$0.95	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person exercised vested Warrants (the "Original Warrants") to purchase 2,514,970 shares of the Issuer's common stock pursuant to a Securities Purchase Agreement dated October 20, 2023 ("Closing Date"). The Reporting Person exercised its Original Warrant in full on or prior to the Closing Date in consideration of the receipt of new warrants with an exercise price equal to $0.95 per share, to purchase 110% of the shares of the Issuer's common stock covered under the Original Warrants.

Content

The Reporting Person exercised vested Warrants (the "Original Warrants") to purchase 2,514,970 shares of the Issuer's common stock pursuant to a Securities Purchase Agreement dated October 20, 2023 ("Closing Date"). The Reporting Person exercised its Original Warrant in full on or prior to the Closing Date in consideration of the receipt of new warrants with an exercise price equal to $0.95 per share, to purchase 110% of the shares of the Issuer's common stock covered under the Original Warrants.